Podcast interviewers have stated that direct mailing to whole mobile home parks for distressed sellers could put off Park Managers. 

Some people park their money in condos, as canadian real estate is relatively safe, and we have a good banking system compared to other countries.

You could analyze the property a few ways but that will only give you a ball park ESTIMATE.1st: You can just run your analysis and add the owner occupied space as additional vacancy.This is a good method because you are "not" collecting income so you are being very conservative in your expense estimate. 2nd: You can run the analysis and calculate the property as if it is rented and you will be receiving rental income.

My problem is the asking price is high and I cannot find comps for an appraised value to give an official offer.

I've just purchased my first Investment home with the intention to extend the parking space and convert the dwelling to a duplex where I'll live in one unit and rent out the second unit. 

However if you are buying for yourself I'd talk to the city about parking requirements for the apartment complex. 

I'm planning on moving it to a mobile home park and renting it out and holding for sometime. 

Hoping to meet some like minded and driven people and talk strategies for 2020 so we can smash it out of the park!

In the north side of town near river park area.

I also thought it would sell for more than $600k based on the prime location overlooking a lake/park.